Wolves life-president, 84-year-old Sir Jack Hayward was ordered to pay thousands of pounds in court costs a couple of months ago, after losing a lengthy legal battle in his beloved Bahamas.

The costs are unlikely to make a major dent in Sir Jack’s fortune, which includes homes in London, New York and an estate in the Highlands, as well as his Bahamas mansion which he shares with his American wife Frances.

Sir Jack has been locked in a long running dispute over the ownership of the Grand Bahama Port Authority which founded the city of Freeport. He was taken to court by the family of his late business partner Edward St George who contested that Sir Jack only owned half of the Port Authority and not 75 per cent as was claimed. The judge ruled in the family’s favour and ordered Sir Jack to pay costs.

Sir Jack first arrived in Grand Bahama in 1956. He took over his father’s interests and took a major interest in the development of Freeport. The Sir Jack Hayward High School which opened in 1998, is named after him and his wife Frances organises an annual exchange with pupils from Boys Harbour school in New York.

Although he lives in the Bahamas he enthusiastically follows his other passion in life – Wolverhampton Wanderers. Sir Jack ended his 17 years ownership of the club last year when he sold control to businessman Steve Morgan for a nominal fee on condition that £30 million was invested in the club. He bought Wolves in 1991 for £2.1 million. It is estimated he put around £50 million of his personal fortune into developing the stadium.

Jack Hayward was born in Wolverhampton in 1923, the only child of Sir Charles and Hilda Hayward, a leading industrialist. He served in the RAF training as a pilot and flying missions over India and Burma.

Knighted in 1986, Sir Jack now plays a major part in Freeport life, where he is honorary chairman of the Salvation Army Advisory Board, Patron of the Humane Society of Grand Bahama and an honorary member of Freeport Rotary Club, The Bahamas National Trust and Freeport Rugby Club.